July 10th, 2013
06:00 PM ET
8 years ago
Senators hope for student loan deal soon as rate doubles
Washington (CNN) - A Democratic measure to temporarily reverse the doubling of interest rates on millions of government-backed student loans fell short in the U.S. Senate on Wednesday, but there was hope a bipartisan deal would be struck soon to remedy the situation.
"We're trying to find some common ground," said Sen. Richard Durbin of Illinois, the No. 2 Democratic leader who spearheaded fresh talks on the dispute. "We don't have an agreement and I can't say when or if we'll come together."
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If anyone votes for these guys come election time, they need to get their brains looked at. This group of politicans does not care what the people want, nor do they care what we think unless its before an election. I am sure that they talk to each other and say that the people are dumb and do not know anything. Maybe we the people can do a job on them and send them packing.
Mike - when there's no jobs out there - people need to get training in other area's. You maybe haven't been personally affected - many others have. So, stop judging without being in a person's shoes.
i have very little love for Republicans or Democrats, tbut Christ, Republicans.. . really? the financial services lobby must have gone into overdrive to push this one through.
investing in higher education is a no-brainer. if there's anything a government should do, it should be to make education more accessible. shame on whoever voted against this.
How unfair. I really do hate the rulling class. The founding fathers probably knew they would contribute to inequality for human descendants who would reside on the North American continent. I hope the modified H5n1 publication causes mass extinction across the globe and we may then as a species venture into sustainability, equality, and low earth orbit/solar system colonization.
And people keep voting them into office...I thought the Senate and the Congress were elected to serve the people? Yet banks/credit card companies/morgage companies are allowed to continue to raise interests rates/ajustable rates. Isn't called stealing?
The first step towards controlling rampant education costs and debilitating debt on our young people.
So the FAA can get a pass but students can't? You GOPers are toast next year! You can't even follow the advice of young republicans who say that your old, racist, and out of touch. Hey Priebus, I love this re-branding effort you've got going on.
Wow. The GOP is fighting for a better deal for students, you knuckleheads! Pay attention. The GOP is for the students, not against. Good grief.
Tell it like it is - the Republicans filibuster everything - requiring 60 votes so nothing will pass.
Republicans are 10% to blame for the gridlock in Washington while the people suffer - they don't care - they want to ruin the Obama presidency. That's their only goal and they take no prisoners. It's their way all the way.
"The U.S. Senate voted Wednesday against taking up a Democratic measure to temporarily reverse the doubling of some student loan rates, "
LIE. Not it did not. It voted in favor of it but could not overcome the broken filibuster rules.
STOP. PRINTING. MISREPRESENTATIONS.
Not everyone needs to go to college. And the extra percentage won't stop or even really hurt those who do. You can always go to a state school or mop the floor of an ivy league school?
The subsidies have to stop. If you can't afford it or can't afford to pay the interest rates on borrowed money, don't borrow it. Not every child can go to ivy league colleges or their "dream" or "party" college. You sign for it, you pay it. I continue to pay my mortgage with interest because I signed a contract. I did not sign a contract that had a clause "if something better comes along" or "if the gub-mit is handing out free money".
... as we come down to the wire, it's Low Student loan interest in front followed closely by High Student loan interest who's closing fast, at the wire it's High Student loan interest by a nose. High Student loan interest is owned by The Banks and trained by Gary Greed, ridden today by I.M Stoopid.
So it goes on and on as the regressives continue to reload and shoot themselves in the foot again and again and again.
Just stating a fact that seems to be lost on many; this rate increase does NOT affect any current loans already taken out. The media has run stories after stories of all the students with large student loan debts, with some time of indication on how this will hurt them. I am NOT saying the rate increase is a good thing, but FACTS are it does NOT affect any current loans.
Woman
Gays
Immigrants
Blacks
Latinos
Elderly
poor
you can now add Students to list of the alienated.
Nice job losers.
Things may be different now than they were when you signed your agreement. The fact of the matter is incomes have gone stagnant, jobs have become scarce, yet the cost of an education has skyrocketed. It is a different world than the one the baby boomers grew up in, and now they are making all the decisions in Washington. Younger Americans need to become more engaged, not led around by the nose. Is the goal to make the extremely wealthy and influential responsible for supporting and guiding our economy? If so, we're doing a fabulous job. Not a sustainable model, in my opinion.
We encourage our children to go to college..but if you don't have the money to pay, they take out loans. Then when they graduate, they can't find jobs and have a huge student loan payment. We might as well tell our young "If you can't afford college, don't go". It is a viscous cycle! SAD!
The Republican filibuster wins again and the people lose.
rs
ANOTHER Republican filibuster. The obstructionist party rides on!
July 10, 2013 01:17 pm at 1:17 pm |
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What part of the Democrats CONTROL the Senate don't you get?? THe Repubs are not at fault. Your liberal Democrats in the Senate and their were a few that voted aganst it also.
Frank Pall – if you were paying attention you probably did cut your mortgage rate in half or close to it. I know we did.
Mr. Johnson - what does that have to do with it? People are paying their loans and agree to the terms. Yet, with the economy and how things have gotten, perhaps the govt. should look at what's in their people's best interest. if they can compromise on lower rates, esp. under trying times, that sounds right. Stop acting like a holier-than-thou dude.
Go go gadget OUTREACH!
djskxx, you do realize that if H5n1 starts to wipe out the population that only the ruling class will have the vaccine and then nothing will change. Within a few generations there will be inequality again.
Lower interest rates for student loans only allows college cost to rise.
College cost are alreday way out of line with the cost benefit.
because colleges don't tie their curriculm with current job market needs.
Maybe this will get our universities interested more in education and less in construction. We all just marvel at the expanse of some of these palaces, but seriously our nation is $16 trillion in debt. Sorry, but maybe the educational institutions can give a nod to efficient financial management along with the rest of us.